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The squeeze is on!

The squeeze is on!

Crude Oil WTI NYMEX:CLZ2015

We didn't see this big of a move coming. We saw the break but expected a quick return to the wedge after getting more people short. It looks like they will squeeze Venezuela and Russia further with lower prices. August lows are a stones throw away. We will "nibble" short if we get a bounce. It will be with small size and tight stops. It won't take much to snap that rubber band and we would rather be long than short. NO TRIGGER, NO TRADE!